Financials PT Triputra Agro Persada Tbk

Equities

TAPG

ID1000160302

Food Processing

End-of-day quote INDONESIA S.E. Other stock markets 03:30:00 16/05/2024 am IST			5-day change	1st Jan Change
555 ^IDR	+2.78%		-14.62%	+1.83%

08/03	PT Triputra Agro Persada Tbk Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	PT Triputra Agro Persada Tbk Reports Earnings Results for the Nine Months Ended September 30, 2023	CI

Valuation

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,21,10,049	1,26,06,363	1,08,19,634	1,10,18,160	-	-
Enterprise Value (EV) ²	14,174	12,985	10,820	9,316	11,018	11,018
P/E ratio	10.3 x	4.23 x	6.73 x	3.96 x	4.19 x	3.82 x
Yield	2.5%	3.94%	-	5.69%	7.47%	7.32%
Capitalization / Revenue	1.93 x	1.35 x	1.3 x	1.13 x	1.17 x	1.08 x
EV / Revenue	2.26 x	1.39 x	1.3 x	0.95 x	1.17 x	1.08 x
EV / EBITDA	8.65 x	3.61 x	5.45 x	3.33 x	4 x	3.87 x
EV / FCF	1,43,98,834 x	53,27,442 x	-	-	-	-
FCF Yield	0%	0%	-	-	-	-
Price to Book	1.61 x	1.26 x	-	0.86 x	0.79 x	0.68 x
Nbr of stocks (in thousands)	1,98,52,540	1,98,52,540	1,98,52,540	1,98,52,540	-	-
Reference price ³	610.0	635.0	545.0	555.0	555.0	555.0
Announcement Date	22/03/22	01/03/23	08/03/24	-	-	-

¹IDR in Million²IDR in Billions³IDR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	5,266	6,278	9,346	8,326	9,781	9,457	10,184
EBITDA ¹	-	1,638	3,601	1,985	2,801	2,752	2,844
EBIT ¹	-	1,086	3,031	1,342	2,187	1,976	2,030
Operating Margin	-	17.3%	32.43%	16.12%	22.36%	20.9%	19.94%
Earnings before Tax (EBT) ¹	-	1,421	3,689	1,941	3,414	3,251	3,543
Net income ¹	-	1,159	2,981	1,608	2,782	2,630	2,887
Net margin	-	18.46%	31.9%	19.32%	28.44%	27.81%	28.35%
EPS ²	48.00	59.00	150.0	81.00	140.1	132.4	145.4
Free Cash Flow	-	9,84,409	24,37,328	-	-	-	-
FCF margin	-	15,679.99%	26,079.84%	-	-	-	-
FCF Conversion (EBITDA)	-	60,089.68%	67,693.25%	-	-	-	-
FCF Conversion (Net income)	-	84,933.43%	81,758.8%	-	-	-	-
Dividend per Share ²	-	15.28	25.00	-	31.60	41.43	40.60
Announcement Date	16/04/21	22/03/22	01/03/23	08/03/24	-	-	-

¹IDR in Billions²IDR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 S1
Net sales ¹	1,825	-
EBITDA	-	-
EBIT ¹	450.2	-
Operating Margin	24.66%	-
Earnings before Tax (EBT)	-	-
Net income	-	1,780
Net margin	-	-
EPS	-	90.00
Dividend per Share	-	-
Announcement Date	22/03/22	24/07/22

¹IDR in Billions

Estimates

Balance Sheet Analysis

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	2,064	378	-	-	-	-
Net Cash position ¹	-	-	-	-	1,702	-	-
Leverage (Debt/EBITDA)	-	1.26 x	0.1051 x	-	-	-	-
Free Cash Flow	-	9,84,409	24,37,328	-	-	-	-
ROE (net income / shareholders' equity)	-	16.6%	34%	-	20.2%	17.4%	17%
ROA (Net income/ Total Assets)	-	9.36%	22.1%	-	16.2%	14.5%	14.2%
Assets ¹	-	12,385	13,486	-	17,138	18,173	20,331
Book Value Per Share ²	-	378.0	505.0	-	643.0	705.0	814.0
Cash Flow per Share	-	-	-	-	-	-	-
Capex ¹	-	471	738	-	923	932	1,253
Capex / Sales	-	7.5%	7.9%	-	9.44%	9.85%	12.3%
Announcement Date	16/04/21	22/03/22	01/03/23	08/03/24	-	-	-

¹IDR in Billions²IDR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for PT Triputra Agro Persada Tbk

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

555 IDR

Average target price

717.5 IDR

Spread / Average Target

+29.28%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Starch, Vegetable Fat & Oil Manufacturing

	1st Jan change	Capi.
PT TRIPUTRA AGRO PERSADA TBK	+1.83%	670M
AAK AB	+26.78%	6.98B
SIME DARBY PLANTATION	-0.22%	6.53B
IOI CORPORATION	+3.56%	5.35B
GOLDEN AGRI-RESOURCES LTD	+1.92%	2.5B
UNITED PLANTATIONS	+47.19%	2.26B
FIRST RESOURCES LIMITED	-1.40%	1.64B
THE NISSHIN OILLIO GROUP,LTD.	+13.17%	1.02B
BUMITAMA AGRI LTD.	+9.09%	851M
PT ASTRA AGRO LESTARI TBK	-13.88%	734M

Starch, Vegetable Fat & Oil Manufacturing